Egypt’s new stamp duty on stock exchange transactions will come into effect in May and include for the first time a 0.3 percent levy for investors acquiring more than a third of a company’s stocks, deputy finance minister Amr al-Munayer said.
The finance ministry is targeting revenues of 1-1.5 billion Egyptian pounds ($54.8 million-$82.2 million) in the first year of the new tax, he told Reuters. The duty will also be applied to purchases of treasury bills and bonds, he said.
-
Egypt targets around 5 pct growth rate in FY 2017-18
Egyptian Planning Minister Hala al-Saeed said on Sunday that the government is targeting a growth rate of around 5 percent for the 2017-18 fiscal year ... Economy -
Egypt’s Sisi to visit Washington in first week of April
Egyptian President Abdel Fattah al-Sisi will make his first state visit to Washington during the first week of April at the invitation of US President ... Middle East -
How a Facebook video helped solve murder mystery in Egypt
A video posted on Facebook by an Egyptian woman helped solve the murder mystery of a young Egyptian man identified as Farid Shawki al-Shehabi. ... Digital -
Colossus found in Egypt may have depicted famed pharaoh Psammetich I
An ancient colossus uncovered in Cairo last week may have depicted the famed pharaoh Psammetich I, Egypt's antiquities ministry said on Thursday. The ... Middle East